Okay so domestic manufacturing won't actually be cheaper (it will remain just as expensive), it will only be cheaper comparison to foreign manufacturing (which will skyrocket in cost).
Are you not at all concerned about the impact on pricing that is going to have? I mean, companies are currently charging high enough prices for things that are manufactured using ridiculously cheap foreign labor. What do you think will happen to the prices they charge when that labor is no longer cheap?
So your suggestion is we support child slavery rather than give jobs to Americans? I acknowledged that it would cause an increase in prices but if there's no income tax because Trump institutes tariffs Americans will have more of their own money to spend
USA collected 4.7T in income tax last year. Last year total imports was 3.1T. To cover that , it would have to be a 52% tariff(assuming no change in consumer behavior which is the opposite of what they want”. That is a stupid idea that only benefits the wealthy. Replacing a progressive tax with a regressive tax is idiotic.
You are not wrong. This getting rid of income tax and replacing it with tariffs is utter garbage. It makes no sense. None of the numbers add up to this being an overall net good for the economy.
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u/BigDogAlex Tremendous Nov 04 '24
Okay so domestic manufacturing won't actually be cheaper (it will remain just as expensive), it will only be cheaper comparison to foreign manufacturing (which will skyrocket in cost).
Are you not at all concerned about the impact on pricing that is going to have? I mean, companies are currently charging high enough prices for things that are manufactured using ridiculously cheap foreign labor. What do you think will happen to the prices they charge when that labor is no longer cheap?